Retail Opportunity Investments (NASDAQ:ROIC) Issues FY 2024 Earnings Guidance

Retail Opportunity Investments (NASDAQ:ROIC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.030-1.090 for the period, compared to the consensus EPS estimate of 1.050. The company issued revenue guidance of -. Retail Opportunity Investments also updated its FY24 guidance to $1.03-$1.09 EPS.

Retail Opportunity Investments Price Performance

NASDAQ ROIC traded up $0.13 on Tuesday, reaching $12.53. The company’s stock had a trading volume of 855,831 shares, compared to its average volume of 1,210,918. The firm has a market cap of $1.60 billion, a PE ratio of 46.41 and a beta of 1.42. Retail Opportunity Investments has a 52 week low of $10.98 and a 52 week high of $15.16. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $12.67 and a 200 day moving average price of $12.92.

Retail Opportunity Investments (NASDAQ:ROIC) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.21). The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $81.09 million. Retail Opportunity Investments had a net margin of 10.54% and a return on equity of 2.53%. During the same quarter last year, the firm earned $0.27 earnings per share. Retail Opportunity Investments’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Retail Opportunity Investments will post 1.04 EPS for the current year.

Retail Opportunity Investments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.79%. Retail Opportunity Investments’s payout ratio is 222.23%.

Analyst Ratings Changes

ROIC has been the topic of a number of research reports. KeyCorp upgraded shares of Retail Opportunity Investments from a sector weight rating to an overweight rating and set a $16.00 target price on the stock in a research report on Friday, January 5th. Bank of America restated an underperform rating and issued a $12.00 price objective (down from $14.50) on shares of Retail Opportunity Investments in a report on Friday, April 5th. Finally, StockNews.com upgraded shares of Retail Opportunity Investments from a sell rating to a hold rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $14.75.

About Retail Opportunity Investments

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.